Danone Sells Vega Brand to Private Equity Fund

June 22, 2021
WM Partners buys nutrition business that Danone inherited along with WhiteWave.

As part of its portfolio review, Danone SA agreed to sell its Vega brand to WM Partners, an Aventura, Fla.-based private equity investment fund focused on the health and wellness category. Price was not disclosed.

Danone inherited the business when it acquired WhiteWave Foods in 2016. A year earlier, WhiteWave had bought the Vancouver maker of plant-based nutrition products (powdered shakes and snack bars) for approximately US$550 million in cash. Vega then had sales of US$100 million

Danone has been reviewing its portfolio after a disappointing 2020, then coming under pressure from two activist investor groups, who reportedly forced out the French company's chairman and CEO Emmanuel Faber in March. Antoine de Saint-Affrique will start as CEO on Sept. 15, Gilles Schnepp became chairman. Danone plans to keep those roles separate for at least a while.

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